HMM signs up with NYSHEX

HMM signs up with NYSHEX

South Korea’s Hyundai Merchant Marine (HMM) has become the sixth containerline to sign up to the fast growing freight platform, New York Shipping Exchange (NYSHEX).

HMM joins Maersk Line, CMA CGM, Hapag Lloyd, OOCL and COSCO on the digital contracting platform linking shippers with available carrier slots.

“We are thrilled to welcome HMM as a carrier member of the exchange who joins our other carriers in bringing a virtuous cycle of reliable bookings and services to global shippers. As an innovator in reliability and technology, HMM provides our shipper members with additional service options at an ideal time as new routings and new trade lanes are being added daily,” said Gordon Downes, CEO of NYSHEX.

With six of the global ocean carriers on the one-year-old NYSHEX, over 52% of global liner capacity is now represented on the platform.

“We are committed to delivering reliability, differentiation and options to our customers. HMM is focused on digital solutions that allow our customers to work online similar to how they live their daily lives. NYSHEX has created an easy to use healthy industry solution that significantly reduces inefficiencies, contracting complexity with a fixed all-in rate and delivers unmatched reliability for our customers’ global shipments. NYSHEX can be a powerful and meaningful outlet to access mutually committed service with our customers,” said Lawrence Burns, senior vice president at HMM.

HMM will begin posting offers on the exchange August 6 for the transpacific westbound trade.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. David
    July 25, 2018 at 8:09 pm

    I think it is a bit misleading to state that over 52% of the global liner capacity is “represented” on the platform. I understand the point you are making considering that 6 global carriers will now use the site; but the carriers only post very selective lanes and capacities on NYSHEX. I don’t know the actual amount, but I doubt the capacity actually offered on the site exceeds 1% of the global total. My two cents worth..